By Frances Yue and William WattsU.S. stocks fell Friday morning, after the Federal Reserve's preferred inflation measure came in with a hotter-than-expected January reading. The annual increase in prices rose to 5.4% from 5.3% in December -- the first uptick in seven months. The more closely followed core index, which is the Fed's preferred inflation measure, also rose 0.6% last month. The increase in the core rate of inflation in the past 12 months moved up to 4.7% from 4.6.%. The strong job market may make it hard for the U.S. central bank to bring down inflation, Jefferson said on Friday.
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